Personal Insurance – The 15 Most Overlooked Options
There many circumstances that, if they occur, could be financially devastating to you and your family’s well-being. No worries though! Auto and homeowner’s policies have extra coverage options that may be added to your policy to meet your specific needs. The following are the most common additional coverage endorsements that are added to homeowner’s policies. Please keep in mind you may have already elected to add some of these endorsements to you policy.
- Back up of Sewer and Drain - Provides coverage for damage caused by the back up of a sewer, drain, or sump pump overflow.
- Flood Insurance - Flood coverage is not provided on a homeowner’s policy, it’s a separate policy that we can provide for you. It provides coverage from an overflow of a body of water and surface water. You do not need to be in a flood prone area to purchase a flood policy.
- Replacement Cost on your Dwelling and your Personal Property - Guarantees the dwelling or personal property will be replaced, without depreciation, in the event of a loss.
- Identity Theft Coverage - Reimburses you for expenses related to restoring you identity if it were stolen.
- Personal Property Schedule – Removes deductible & provides worldwide coverage for jewelry, guns, furs, musical instruments, collectibles, fine arts, etc.
- Special personal property - Provides the broadest coverage available for your home contents.
- Earthquake Coverage- Covers the cost to replace or repair your damaged property in the event of an earthquake. This coverage is excluded on a homeowner’s policy.
- Business in the Home Endorsement - Provides liability and/or business property coverage for certain home-based businesses.
- Excess Liability (Umbrella) and Increased Liability Limits - Protects your assets in the event you or someone in your household accidentally injures another person or damages their property.
- Recreational Vehicle Coverage - Coverage can be added for boats, ATVs, Snowmobiles, Golf Carts, etc.
- Loan/Lease – Loan/Lease covers the difference between the amount owed on lease or loan and the amount normally paid by a car insurance policy at the time of a total loss.
- Rental Reimbursement – Covers up to a specified amount for a rental car while your car is being fixed after a covered loss.
- Towing – Covers roadside services for your vehicle, up to a specified limit.
- Uninsured/Underinsured Motorist on Umbrella – provides excess coverage for injuries caused to you and your passengers should you get hit by an uninsured or underinsured motorist.
- Life Insurance - A way of protecting your next of kin against financial hardship should something happen to you.